Description:
(American Railroad Executive, Financier, and Speculator)
Jason “Jay” Gould, known as one of the ruthless “robber barons” of the nineteenth century American capitalism, was a famed railroad developer, financier and speculator. Starting his career as a surveyor in the state of New York, he did not take long to become the deadliest speculator and the largest railroad developer of his time. In between, he had owned and lost a tannery, dealt in lumber, used banks to finance his speculations and bribed legislatures and judges to legalize his illegal dealings. Born to a farmer in the state of New York, he knew from his childhood that he did not want to become a farmer. To make his dream come true, he left school without graduating and from the age of sixteen started working during daytime and studying at night. As a teenager he started his surveying business and a few years later he convinced an established businessman to take him as a partner in his new tannery business and then convinced a leather merchant to loan him money so that they could take it over. He first started buying stocks during the Panic of 1857 and slowly began to takeover railroad companies by shrewdly manipulating them and thus amassed a huge fortune.
Birthday
May 27, 1836 (Gemini)
Died on
December 2, 1892
Parents
What were Jay Gould's major business interests?
Jay Gould was primarily involved in the railroad and telegraph industries, where he made significant investments and acquisitions.
How did Jay Gould impact the economy during his time?
Jay Gould was known for his aggressive business tactics, including stock manipulations and consolidations, which often led to market instability and controversy.
What was Jay Gould's role in the development of the transcontinental railroad?
Jay Gould played a significant role in the expansion and consolidation of the railroad industry, particularly through his involvement in the development of the transcontinental railroad network.
How did Jay Gould's business practices contribute to his reputation as a controversial figure?
Jay Gould's aggressive and sometimes unethical business practices, such as stock watering and market manipulation, earned him a reputation as a controversial figure in the business world.
What was Jay Gould's impact on labor relations and strikes in the late 19th century?
Jay Gould's involvement in labor disputes, particularly during the railroad strikes of the late 19th century, highlighted his contentious relationship with labor unions and workers' rights movements.
